Interactive Brokers holds all cash not used for overnight futures margin in your securities subaccount where it does have SIPC coverage. On the negative side, Interactive Brokers futures commissions are too high and traders can get lower rates at a number of other firms.
Has anyone expirience with APPL International Inc. as broker? They offer me very good commision so i'm a somewhat skeptic. Trading plattform is APPL TRADER which is equal to Open E Cry.
TraDaTor, I think you might have bad information. OEC did away with its higher international rate a long time ago. They have the same basic rates for all clients www.openecry.com/rates/rates.cfm
Never heard of appl, but if you look at the software page this has to an OECâs software. I use OEC and TradeStation and I am sure this is the same thing I am using. http://www.applfutures.com/trader_software_highlights.php I would go directly with the maker of the software. Always cheaper.
I'm test driving the OEC demo account and noticed a lot of problems with the platform. For instance cancelling orders doesn't seem to work for me. I get a pop up box saying the order does not exist, but when I try to exit the program it says I still have working orders and the order still shows up in the active orders window. I'm really interested in a finding a good futures broker to try out some new strategies that I have.
butterfly - just give OEC a call and they will walk you through the features you need. The software is pretty nice and I can't imagine why canceling orders would be an issue b/c I do it all the time.